View photosWeWork’s Revenue Doubled Last Year. So Did Its LossesMore
(Bloomberg) — Co-working company WeWork Cos. is continuing to expand, especially overseas. But its losses are growing in lockstep with its sales, the company said Monday.
At the end of last year, New York-based WeWork had more than 400,000 members worldwide paying for access to its shared or flexible office space, more than twice the number a year ago. The company said 43 percent of its revenue for the fourth quarter of 2018 came from outside the U.S.
That international growth helped the company more than double its sales to $1.82 billion in 2018 from a year earlier. Over the same period, WeWork’s losses also more than doubled to $1.93 billion.
WeWork, a private company, is not required to share financial performance details,